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11-29-2006, 07:14 PM #1
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Oh Boy-SS - Bush's Big Compromise
What is this traitor doing now? Can it get any worse.......is he going to use this as a wedge for ILLEGAL AMNESTY?
Bush's Big Compromise
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by Amanda B. Carpenter — 11-28-2006 @ 12:32 PM
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Peter Ferrara is forecasting an unlikely group of armies battling against each other over Social Security reform in the coming Congress: conservative Republicans who favor personal accounts and a camp of Bush-backed lawmakers with a plan to raise payroll ceilings and taxes.
Ferrara declared today that "the Bush administration seems set to push for a huge hike in Social Security taxes and a major cut in future promised benefits" without personal accounts or "truly" saving the program.
He said the plan can be expected to raise the Social Security ceiling for payroll taxes from $92,400 to somewhere in the range of $150,000, increasing some persons taxes as much as $7,000 more per year.
The increase, according to Ferrara, would offset Bush income tax cuts and cut benefits by 30 percent for those making more than $25,000 per year.
But, Republicans are making moves to advance personal accounts, albeit without Bush. Their plan is to propose a new personal-accounts bill that would not include any tax hikes or benefit cuts.
Ferrara said, "This legislation should turn the Social Security debate into a choice between the personal accounts versus the Bush/Democratic tax hikes and benefit cuts."
Stay tuned.
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